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ATO swoop on high-balance SMSFs exposing Part IVA schemes

ATO swoop on high-balance SMSFs exposing Part IVA schemes

by Shared by SMSF Adviser | Sep 28, 2018 | News

ATO deputy commissioner James O’Halloran said the ATO continues to monitor schemes or arrangements designed to stream income into the super environment, particularly the retirement phase.Read the full article at SMSF Adviser.
Double prison time, five-fold penalties for misconduct on the cards

Double prison time, five-fold penalties for misconduct on the cards

by Shared by SMSF Adviser | Sep 27, 2018 | News

A joint release from Treasurer Josh Frydenberg and Assistant Treasurer Stuart Robert said the proposed changes include doubling the maximum prison time for the most serious criminal offences to 10 years.Read the full article at SMSF Adviser.
ATO makes moves to fix ‘unworkable’ TBC data access

ATO makes moves to fix ‘unworkable’ TBC data access

by Shared by SMSF Adviser | Sep 26, 2018 | News

By the end of July 2018, ATO deputy commissioner James O’Halloran said approximately 135,000 SMSFs had reported transfer balance cap information to the ATO, with the ATO issuing approximately 2,000 excess transfer balance determinations to members of SMSFs.Read the...
‘Huge’ professional risk in SG delays, big four firm warns

‘Huge’ professional risk in SG delays, big four firm warns

by Shared by SMSF Adviser | Sep 25, 2018 | News

Speaking at a recent conference, PwC director of private clients Liz Westover said while there has been a lot of commentary suggesting that employers should hold off on declaring any unpaid SG obligations until the SG amnesty is passed by Parliament, there are...
76% of accountants give SMSF advice, but numbers are sliding

76% of accountants give SMSF advice, but numbers are sliding

by Shared by SMSF Adviser | Sep 21, 2018 | News

Investment Trends research director Recep III Peker said the last two years have been quite challenging for a lot of accountants, especially in terms of focusing on SMSFs.Read the full article at SMSF Adviser.
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